Transparent and ethical operations
The transparency and accuracy of information regarding Sponda’s operations is of the utmost importance to us. We promote transparency by developing our operating models and engaging in open dialogue with stakeholders.
The key aspects of the priority are:
- Value generated for stakeholders
- Transparent communications and reporting
- Business principles
- Purchasing management and responsible purchasing
- Good governance and risk management
Why is this a priority?
All of our operations are transparent and based on ethical operating methods and good governance. Sponda’s Code of Conduct provides ethical guidelines for the company and creates the foundation for its business operations and stakeholder co-operation. Responsible business operations and effective risk management aimed at minimising risks also generate value for stakeholders and increase the company’s profitability.
For us, transparency means, above all, reliable communications and reporting. These aspects are continuously developed on the basis of interaction with investors and other stakeholders. In customer communications, our aim is interactive and regular communication. More detailed information on Sponda’s key stakeholder groups and interaction with them can be found in the Annual Report’s Sponda’s stakeholder groups section of the annual report and on the company website.
Sponda’s financial reporting complies with existing legislation and standards. We serve investors by providing information on Sponda’s operating environment and development in line with EPRA (European Public Real Estate Association) recommendations, among others. As part of the annual report, we publish information on our annual tax footprint, which describes the taxes and tax-like payments arising from operations.
Reporting on responsibility plays a key role
As an industry leader, we aim to continuously develop not only our financial reporting, but also our reporting on responsibility. We report on our responsibility efforts annually in accordance with the following guidelines:
- Global Reporting Initiative (GRI) G4
- CDP Climate
- Global Real Estate Sustainability Benchmark (GRESB)
- EPRA Best Practices Recommendations on Sustainability Reporting
- Global Compact reporting
The regularly updated criteria of international reporting guidelines also provide guidance for the development of our operations.
Responsible management of the co-operation network
Companies, organisations and authorities in the construction and real estate industry have an important role in protecting against the grey economy and commercial crime. We promote responsible operating methods in the property sector in co-operation with our subcontractors by requiring that they operate transparently, comply with applicable legislation and regulations issued by the authorities, and conduct their communications in a timely and appropriate manner.
The goal of our purchasing strategy is to:
- Produce high-quality property maintenance services in an optimal manner.
- Take energy efficiency and other environmental impacts into consideration in property development and renovation projects, as well as during the use of properties.
- Determine service provider selection criteria and service evaluation criteria, and develop contract models for property services, on the basis of providing incentives and guidance for producing good quality and improving service solutions.
Our contractual partners must have their own existing environmental systems and programmes that define the operating principles for taking environmental issues into consideration. Contractual partners are required to take the general objectives and operating principles defined in Sponda’s environmental policy into account in their operations.
Sponda’s service providers must satisfy the provisions laid out in the Finnish Act on the Contractor’s Obligations and Liability when Work is Contracted Out.
Cash flows between stakeholders
(share of Sponda's turnover,%)